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Are people actually thinking this company is not going to produce oil when they've already told us they can flow oil from two different wells at Horse Hill now.
They are simply finalising and configuring these wells for long term production now.
An absolute steal to buy at this price knowing this.
Thanks for the bargain shares sellers and trolls :-)
Probably sell a few at 10p for a holiday and hold the rest for retirement plans at 50p plus :-)
GLA
HH-1 activity yes.... see Twitter pump being readied to go back down well : https://twitter.com/WealdOilers/status/1217417296907513856
Flowing again tomorrow or Friday I guess.... as guessed this morning too :-)
The team are not stopping now... they had their break to recharge the batteries and now they are up to full speed ahead.
GLA
Continues today.... keep an eye on Twitter for the latest.
They should have HH-1 flowing in it's new configuration by the end of the week.
Waste tankers were in early yesterday removing cleanup fluid potentially and an oil tanker emptying the tanks ready for the new flow rates.
Then once HH-1 is flowing on it's new test cycle, HH-2z work can begin for the big flows!
Looking good team.... exciting times ahead.
GLA
Millions of barrels of it.
Currently HH-2z can delivery 600Bopd at only a 60% cut.
Wait for the simple water isolation issue to be resolved and we'll then know how to value the HH-2z asset.
Currenly we're trading below the value of the old figures of HH-1 alone... wait for the rework on that one too.
One thing is for sure the share price will be much higher than this when they have finished this current HH-1 and HH-2z test phase in the coming weeks.
GLA
@Welsh, that might be the case if they cannot fit the HH-2z equipment in with the HH-1 pump in place.
Maybe it's an H&S issue too.
But we know the wells are not conected in terms of the the oil pools.
Should be an interesting week watching and working out what is happening.
GLA
Yes, looks to me like they decided to rework HH-1 first to get that on better flow rates while they carry out the longer operation on HH-2z.
They maybe waiting for extra data on HH-2z or having to wait longer than ideal for equipment.
Might as well get HH-1 working at optimum sooner.
Simples and looking forward the revised test figures.... will they free flow it again ?????
Probably something like that.
The key thing is that they are now getting on with getting on with it :-)
Should see a lot more going on through this week now.
Who knows what will triggure the market to tick this up.
Should be fun watching UKOG rise... as always.
GLA
Looks like Christmas hols are over and back to work.
Are you in for the ride or still watching......???
GLA
want to be out for the weekend.
It's probably all kicking off next week.
GLA
Agreed, keep in on UKOG.
So the climate of sentiment on UKOG's true value is currently sitting in the balance I would say.
We are trading flat until we get the next update.
Are we going to see plant movement reported by eyes or an official company report on the measures and time scale to be done next.
It does seem like the market needs some update from the company since we are now well into the new year and little sign of extra activity at the site. Maybe the ground team are having a very well deserved extended break before things kick off intensly next week.
Either way since there is no activity we cannot read anything bad or good into it.... just wait.... and wait some more.
GLA
I agree, same pattern over and over again.
The main thing for LTH is that we are now in an upward trend.
Could easily be paying over 1p to buy next week.
GLA
Yep, real close was 0.89p.
An increasing trend towards close the last two days. Maybe spike to 1p again tomorrow.
Anyone thinking of being out for the weekend?..... wouldn't think it would be a good idea if you want to ride this up :-)
GLA
Yes, a bit of a change of direction around 2:00pm. Maybe some activity not reported yet.
We'll be the last to know but at least it must be good news if there is some.... GLA
Yep, strange.
Anyway I can confirm the trades at 0.787p are buys because on of them is mine :-)
Thanks sellers.
Can not wait for the news to break..... but I guess I have to... someone somewhere is working hard to progress this evolving company and we'll be told what they've been doing soon.
In the mean time tankers keep rolling out of the gates at a rate that more than justifies the current price.
GLA
UKOG have drilled a horizontally production well and are delivering portland oil to the surface.
They still need to complete the cleanup and finalise some intervention work but for me this is proof of concept that they have the knowledge, the skill and capability to deliver UK onshore oil in very commercial volumes.
Next is 2020 it's all about 'wash and repeat' - scale it up across the six weil HH site and then onto their many other licenced sites.
UKOG is well on the way to mid-cap status in 2020 now.
I'm def buying more now........
Remember HH-1 flow over 1600bopd in a short test in 2016.... they are planning to optimise HH-1 in the new year!!!
Happy Christmas everyone
Great confirmation from eyes of waste tankers on site.
Still removing sludge from HH-2z as clean up continues.
We know this is standard normal operation and eventually it either continues to gush clean oil....or it stops.
My money is obviously on the gusher :-)
HH-1 flowing at high pump rate and since we are only trading at HH-1 levels here I see HH-2z as a very low risk gamble at this stage.
GLA
It's a very good point that you and others cannot be there the whole time. At best we can only get snapshots of the unfolding story, but without those brief snapshots we'd be totally in the dark as private investors.
We are in a great position here to get ahead of the market a lilttle before official news.
Hopefully RNS tomorrow giving us more of the story though and looking forward to more 'eyes spy' pics :-)
We have a convoy on day one. This is huge.
3 tankers after day 1. Looks like we have a winner!
Well done all those that held and topped up ready for this. Its going to be a lot of fun over the coming weeks watching this stock re-rate!